ITALTILE LIMITED - Update on Acquisition of Ceramic Industries Proprietary Limited ("Ceramic")

Update on Acquisition of Ceramic Industries Proprietary Limited ("Ceramic")

ITALTILE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1955/000558/06)
Share code: ITE ISIN: ZAE000099123
(“Italtile” or “the Group”)


UPDATE ON ACQUISITION OF CERAMIC INDUSTRIES PROPRIETARY LIMITED ("CERAMIC")


Further to the SENS announcements published on 26 April 2016, 9 June 2016 and 20 July 2016, Italtile
submitted a binding offer ("Binding Offer") on 16 July 2016 to Ceramic, to acquire up to a further 73.5% of
the company´s issued share capital ("the Acquisition"). In terms of the Acquisition, the purchase
consideration equates to R3.61 billion which will be settled in cash (50%) and the balance by the issue of
Italtile shares at R11.57 per share.

In a statement issued on 21 August 2017, the Competition Tribunal (“the Tribunal”) announced that the
merger has been conditionally approved. Shareholders are referred to the statement released by the
Tribunal.

The Tribunal furthermore advised in its statement that it will release the full reasons for its decision in due
course.

Shareholders will be apprised of further details as soon as practicable.



Johannesburg
22 August 2017


Sponsor
Merchantec Capital

Legal Advisor to Italtile
Hogan Lovells (SA) Inc.

Corporate and Legal Advisor to Rallen
Rabin & Associates Proprietary Limited

Corporate and Legal Advisor to Ceramic
Prinsloo, Tindle and Andropoulos Inc.




      Investor Communications    083 395 8608     english@investorcommunications.co.za         Page 1 of 1

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